What Business Owners Need to Know About Commercial Insurance

Owning your own business is one of the best ways to achieve your financial dreams and experience true freedom. Along with this sense of freedom, though, also comes great responsibility. You have a responsibility to your employees, your customers, and yourself to make sure your business is protected from financial risks. This can often be accomplished through smart insurance decisions.  At Bye Financial Group LLC serving Grand Ledge MI, we want to help business owners like you make the best insurance choices. Keep reading to find out what you need to know about commercial insurance. 

What is Commercial Insurance?

Commercial insurance is a suite of insurance products that are designed with the business owner in mind. This type of insurance can cover all of the major areas which need protection in your day-to-day business. Commercial insurance provides a multi-layered approach to insurance with one policy. 

What Does Commercial Insurance Cover?

Because each business is different, a commercial insurance policy can be customized to fit your specific needs. However, in general, a commercial insurance policy will cover the following areas:

Property Damage- If your company runs a brick-and-mortar establishment, you will want to make sure your property is protected. In the event that your property or equipment is damaged or lost due to fire, natural disaster, or burglary, the insurance policy will pay to repair or replace what is lost or damaged.

Auto Insurance- If your company operates vehicles as part of your business operations, your commercial insurance policy can provide automobile insurance for the vehicles and drivers which you use. 

Liability- If someone is injured at your place of business or as a result of your goods and services, you could be held liable for their medical bills as well as for any legal fees that could result. Liability insurance will help pay these expenses. 

If you would like to learn more about our services, please contact us at Bye Financial Group LLC serving Grand Ledge, MI.